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Home > The More I Save, the More Money I Seem to Have

The More I Save, the More Money I Seem to Have

March 23rd, 2007 at 05:29 pm


I have noticed a trend since I first joined Saving Advice last October. At that time I was not saving any money at all and it seemed like I was barely able to pay our bills at the time. It seemed that we were losing the battle of treading water and were beginning to go under.

Since I have joined, our bills have not really changed much, but I took to heart the advice of "paying yourself first". I started setting aside $5 a week out of DH's paycheck. Over the months that has grown to $25 a week for an upcoming vacation/birthday trip, $20 a week for an emergency fund, and $50 a month for the Ameritrade Save Yourself plan.

Where did I find that money? I have no clue! I just decided that it needed done and started doing it. I seldom miss a week now that I don't set aside money in all the savings areas.

I have also found that the easiest money to save is the account that I have set up to be transferred automatically from our checking account each Friday. If money is tight one week I am liable to not put the Emergency Fund amount aside because it's not already scheduled. But the payment that is scheduled is made each time. It's just easier to sacrifice money in one of my less important budget categories than it is to change the automatic transfer.

My advice: pay yourself first. It really does work!

Posted in Budgeting, Emergency Fund, Banking, Extra Income | 7 Comments »

7 Responses to “The More I Save, the More Money I Seem to Have”

  1. JanH Says:
    March 23rd, 2007 at 05:35 pm 1174671324
    1174671324

    I'm the same way! We actually take home less per month than we were when I started here, but I save more. Go figure! The advice on accounting for everything, setting up future needs, setting up savings amounts, and ways to save have made a huge difference, even if the amounts are small ones. I didn't realize how much it would all add up.

  2. Ima saver Says:
    March 23rd, 2007 at 05:35 pm 1174671337
    1174671337

    It really does work, I learned that a long time ago.

  3. newlyfrugal Says:
    March 23rd, 2007 at 06:07 pm 1174673264
    1174673264

    Congrats on the "new found wealth"! I have paid myself first for years and built up a nice nest egg, but at the same time I put everything else I wanted on the CC so I have as much debt as I do savings. *sigh* I am working hard on that part though! Good luck!

  4. fairy74 Says:
    March 23rd, 2007 at 06:10 pm 1174673443
    1174673443

    good for you, this is what we do too Smile

  5. daylily Says:
    March 23rd, 2007 at 06:17 pm 1174673839
    1174673839

    Isn't it funny how just 'being aware' of things can make such a difference. I have benefited greatly from this site.

  6. campfrugal Says:
    March 24th, 2007 at 12:42 pm 1174740154
    1174740154

    Hi. I read your Author Info and it seems we have a lot in common, teenagers, children in college, some debt and working on savings. These are the expensive years. Good for you for paying yourself first. I have been doing that also for a little while and it gives great comfort and peace of mind to know there is a little money set aside for emergencies.

  7. rduell Says:
    March 24th, 2007 at 09:35 pm 1174772100
    1174772100

    campfrugal...that's how it is for me too. I could pay the debts first and hold off until later on the emergency fund, but the extra interest I pay is worth the peace of mind I have just knowing that there is money in the bank.

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